Financial Data and Key Metrics Changes - Product sales for the first quarter of 2025 increased by 11% or $810,000 to a record $8,100,000 compared to the first quarter of 2024 [9] - The twelve-month period ended 03/31/2025 saw a 28% increase in product sales, amounting to $27,300,000 compared to the previous year [10] - Adjusted EBITDA for the three, six, and twelve-month periods ended 03/31/2025 was $2,300,000, $3,700,000, and $3,300,000 respectively, showing significant improvement from the previous year [12] Business Line Data and Key Metrics Changes - The sales mix for Tri Shield constituted 71% of total sales in the latest quarter, up from 55% in the previous quarter [17] - The company is developing a new bulk powder product, expected to be launched in the latter half of 2025, which will serve as a seed additive for large ranches [20] Market Data and Key Metrics Changes - The order backlog decreased from $4,400,000 as of 12/31/2024 to $4,000,000 as of 03/31/2025, and further reduced to $3,400,000 by 05/06/2025 [9] Company Strategy and Development Direction - The company is focused on expanding its product offerings and increasing production capacity, with investments exceeding $30,000,000 to enhance production facilities [6] - Management emphasizes the importance of avoiding contamination events and maintaining strong production yields to drive cash flows [10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's trajectory for the remainder of 2025, highlighting the positive sales growth and improved cash balance [6] - The company is currently in a recovery phase, with expectations for continued growth driven by increased production capacity and backlog clearance [39] Other Important Information - The company has not experienced any contamination events for over a year, which is crucial for maintaining production efficiency [6] - The introduction of investigational product use for Repayne aims to gather market feedback while minimizing product development costs [7] Q&A Session Summary Question: Inquiry about product mix and its impact on gross margin - Management confirmed that Tri Shield has been a significant driver of growth due to its broader claims and efficacy, and while the bulk powder product is still in development, it is expected to contribute positively in the future [19][20] Question: Clarification on EBITDA erosion from past contamination events - Management indicated that the last contamination event occurred in April 2024, affecting primarily the first quarter of that year, with a revenue rebound starting in the fourth quarter of 2024 [30][35] Question: Expectations for future revenue and EBITDA - Management suggested that the core business EBITDA run rate is expected to be higher than the reported figures due to improved operational conditions and backlog clearance [40][41] Question: Discussion on product development expenses and their impact on EBITDA - Management acknowledged that significant investments in product development are impacting current EBITDA but are necessary for future growth and product approvals [45][50] Question: Difference between investigational use and commercial approval - Management explained that investigational use allows for product testing and data collection without generating revenue, while awaiting full FDA approval [61][62]

Financial Data and Key Metrics Changes - Product sales for the first quarter of 2025 increased by 11% or $810,000 to a record $8,100,000 compared to the first quarter of 2024, surpassing the previous record set in the fourth quarter of 2024 [9] - The gross margin improved to 42% in the first quarter of 2025, up from 37% in the fourth quarter of 2024, although the target remains at 45% or more [11] - Adjusted EBITDA for the three months ended 03/31/2025 was $2,300,000, a significant increase from $705,000 in the same period of 2024 [12] Business Line Data and Key Metrics Changes - The sales mix for Tri Shield constituted 71% of total sales in the latest quarter, up from 55% in the previous quarter, indicating strong demand for this product [17] - The company is developing a new bulk powder product, expected to be launched in the latter half of 2025, which will target large ranches [20] Market Data and Key Metrics Changes - The order backlog decreased from $4,400,000 as of 12/31/2024 to $4,000,000 as of 03/31/2025, and further reduced to $3,400,000 as of 05/06/2025, indicating improved sales performance [9] Company Strategy and Development Direction - The company is focused on expanding its product offerings and increasing production capacity, having completed investments to boost production capacity to over $30,000,000 per year [6] - Management emphasized the importance of avoiding contamination events and maintaining strong production yields to drive cash flows [10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's trajectory for the remainder of 2025, highlighting the complexity of managing a growing and diverse business [8] - The company is currently utilizing investigational product use of Repayne to gather market feedback while minimizing product development costs [7] Other Important Information - The company has not experienced any contamination events for over a year, which has positively impacted production and sales [6] - The new CFO, Tim Fiori, brings extensive experience from IDEXX Laboratories, which is expected to enhance financial operations [8] Q&A Session Summary Question: Inquiry about product mix and Tri Shield sales - Management confirmed that Tri Shield has been a significant driver of growth due to its broader claims and efficacy [19] Question: Expectations for new bulk powder product - The bulk powder product is still in development, with no sales reported yet, but is expected to launch in the second half of 2025 [20] Question: Clarification on EBITDA erosion from past contamination events - Management indicated that the last contamination event occurred in April 2024, affecting the previous year's EBITDA, but strong sales have rebounded since then [32][34] Question: Future revenue expectations - Management noted that the second quarter is expected to benefit from clearing the backlog and increased production capacity, although specific revenue projections were not provided [38] Question: Investigational product use versus commercial approval - The investigational use allows the company to gather data without generating revenue, while awaiting full FDA approval [58] Question: Impact of profitability on share sales - Management acknowledged that profitability is a factor in share sales, but capital needs for growth and obligations remain considerations [59] Question: Future projections for the company - Management expressed caution in providing specific projections due to the variability in sales and market conditions, emphasizing the importance of tracking performance [67]

Company Overview and Strategy - ImmuCell Corporation focuses on growth in First Defense product line sales and aims to revolutionize subclinical mastitis treatment with Re-Tain[10] - The company addresses the $2 billion annual economic harm to the dairy industry caused by mastitis without traditional antibiotics, using Re-Tain (subject to FDA approval)[10, 53] - Three critical action items include growing First Defense sales, achieving FDA approval for Re-Tain, and proving market acceptance of Re-Tain with $10 million annual production capacity[18] - The company completed an investment to increase First Defense production capacity to over $30 million in annual sales value[29, 49] Product Lines and Market Opportunities - The U S market opportunity for calf-level products to prevent scours is approximately $31 1 million annually[32, 51] - The U S market opportunity for calf-level and dam-level vaccine products used to prevent scours is estimated at $81 8 million annually[32, 51] - Mastitis causes an estimated $2 billion in economic loss to the dairy industry each year[33, 52] Financial Performance - As of March 31, 2025, the company's cash and cash equivalents were $4 6 million, and total assets were $45 6 million[83] - For the three-month period ended March 31, 2025, product sales were $8 1 million, with a gross margin of 42%[87] - The company's total project cost for First Defense is estimated at $14 177 million, and for Re-Tain, it's $5 382 million[90]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 | | | Name of each exchange on which | | --- | --- | --- | | Title of each class | Trading symbol(s) | registered | | Common Stock, $0.10 par value per share | ICCC | The Nasdaq Capital Market | Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Sec ...

Core Viewpoint - ImmuCell Corporation reported record product sales and net income for the first quarter of 2025, indicating strong growth and operational improvements in the animal health sector [4][8]. Financial Performance - Product sales for Q1 2025 reached approximately $8.1 million, an increase of 11% compared to Q1 2024 [8]. - For the six-month period ending March 31, 2025, product sales increased by 28% to approximately $15.8 million compared to the same period in 2024 [8]. - Over the twelve-month period ending March 31, 2025, product sales also rose by 28% to approximately $27.3 million compared to the previous year [8]. - The gross margin improved to 42% in Q1 2025 from 37% in Q4 2024 [4]. - Net income for Q1 2025 was approximately $1.4 million, or $0.16 per diluted share, compared to a net loss of $438,000, or ($0.06) per basic share, in Q1 2024 [9]. Balance Sheet Highlights - Cash and cash equivalents increased to $4.6 million as of March 31, 2025, up from $3.8 million as of December 31, 2024 [9]. - Net working capital rose to approximately $12.1 million as of March 31, 2025, compared to $10.6 million at the end of 2024 [9]. - Stockholders' equity increased to $29 million as of March 31, 2025, from $27.5 million as of December 31, 2024 [9]. Operational Insights - The company is focused on reducing order backlogs and improving gross margins as production output increases [4]. - ImmuCell is advancing the Investigational Product use of Re-Tain to gather market feedback on product performance during the second half of 2025 [4]. - The company is also reducing product development expenses and exploring strategic options for its technology [4].

Core Insights - ImmuCell Corporation is set to report unaudited financial results for Q1 2025 on May 14, 2025, after market close [1][3] - A conference call to discuss these results is scheduled for May 15, 2025, at 9:00 AM ET [2] - The company anticipates no changes to preliminary sales results disclosed on April 8, 2025 [3] Company Overview - ImmuCell focuses on developing and marketing products that enhance the health and productivity of dairy and beef cattle [5] - The company manufactures First Defense, which provides Immediate Immunity™ to newborn calves, and is developing Re-Tain, a treatment for subclinical mastitis in dairy cows [5] Investor Information - Investors can access an updated Corporate Presentation slide deck on the company's website, which will be available after market close on May 14, 2025 [4]

Group 1: Netflix, Inc. (NFLX) - Netflix's shares have outperformed the Zacks Broadcast Radio and Television industry over the past year, increasing by 58.1% compared to the industry's 45.8% [4] - The company is benefiting from a growing subscriber base, with about two hours of viewing per member per day, indicating strong member retention [4] - The launch of a first-party ad tech platform in Canada and other countries in 2025 is expected to double ad revenues year-over-year, with raised revenue guidance for 2025 between $43.5 billion and $44.5 billion [5] Group 2: SAP SE (SAP) - SAP's shares have outperformed the Zacks Computer - Software industry over the past year, increasing by 46.4% compared to a decline of 2.9% in the industry [7] - The company is experiencing growth due to rising cloud demand, particularly from its Rise with SAP and Grow with SAP solutions [7] - SAP's revised 2025 outlook expects cloud and software sales in the range of €33.1 billion to €33.6 billion, up from a previous forecast of €29.83 billion [9] Group 3: Shell plc (SHEL) - Shell's shares have declined by 8.1% over the past year, while the Zacks Oil and Gas - Integrated - International industry saw a decline of 12.7% [10] - The company faces challenges in its Renewable segment and has a sub-100% reserve replacement ratio, indicating difficulties in replenishing produced energy [10] - Despite these challenges, Shell remains a global leader in liquefied natural gas, leveraging its strong LNG position to generate consistent earnings [11] Group 4: Preformed Line Products Co. (PLPC) - Preformed Line Products has outperformed the Zacks Electronics - Miscellaneous Products industry over the past year, increasing by 13.8% compared to a decline of 50.3% in the industry [13] - The company has a robust balance sheet with $57.2 million in cash and $56.2 million in free cash flow, supporting liquidity and potential M&A [13] - Global diversification offsets U.S. market weakness, with strong growth in EMEA, Asia-Pacific, and The Americas [14] Group 5: ImmuCell Corp. (ICCC) - ImmuCell shares have outperformed the Zacks Medical - Products industry over the past six months, increasing by 48.7% compared to a decline of 5.7% in the industry [16] - The company is experiencing strong operational recovery, with fourth quarter and full-year 2024 product sales rising by 52% year-over-year [16] - Gross margin improved to 36.5% in the fourth quarter, and EBITDA turned positive at $1.1 million for the year [17]

PORTLAND, Maine, April 08, 2025 (GLOBE NEWSWIRE) -- ImmuCell Corporation (Nasdaq: ICCC) ("ImmuCell" or the "Company"), a growing animal health company that develops, manufactures and markets scientifically proven and practical products that improve the health and productivity of dairy and beef cattle, today announced preliminary, unaudited sales results for the first quarter of 2025. Since the first quarter of 2020, the Company has been providing a preliminary look at its unaudited top line results soon aft ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) April 08, 2025 ImmuCell Corporation | (Exact name of registrant as specified in its charter) | | | | --- | --- | --- | | DE | 001-12934 | 01-0382980 | | (State or other jurisdiction | (Commission File Number) | (IRS Employer Identification No.) | | of incorporation) | | | | 56 Evergreen Drive Po ...

PORTLAND, Maine, April 08, 2025 (GLOBE NEWSWIRE) -- ImmuCell Corporation (Nasdaq: ICCC) (“ImmuCell” or the “Company”), a growing animal health company that develops, manufactures and markets scientifically proven and practical products that improve the health and productivity of dairy and beef cattle, today announced preliminary, unaudited sales results for the first quarter of 2025. Since the first quarter of 2020, the Company has been providing a preliminary look at its unaudited top line results soon aft ...